German business software giant SAP and its US based competitor Oracle are locked in a fierce head-to-head competition. SAP has had the edge for a while. Now the pendulum could be swinging the other way.
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Porsche and SAP will work closely together on new initiatives for the digital transformation of the German sports car maker.
Bill McDermott is stepping down as CEO of SAP with immediate effect, the company said Thursday. He is succeeded by management board members Jennifer Morgan and Christian Klein, who will serve as co-CEOs of the world’s largest business software group.
Schaeffler plans to work with business software group SAP to further develop its IT systems and step up digital transformation to improve efficiency.
Volvo Group said its venture capital arm has invested in Israeli automotive cybersecurity specialist Upstream Security. It also announced that it would form a dedicated new business arm for autonomous vehicles.
Faurecia has opened an office in Tel Aviv, where it hopes to accelerate its cyber security strategy.
More than two-thirds of all companies worldwide plan to spend at least 5% of their IT budgets on cyber security next year, according to a new poll. That’s up from 56% of companies polled a year ago.
